DURHAM,
N.C., AUGUST 19, 2008 – Cree, Inc. (Nasdaq: CREE), a market leader in LED
lighting, announces
that Steve Kelley will join the company as executive vice president and chief
operating officer, effective today. In this newly created position, Kelley will
be responsible for business development, global manufacturing, technology and
administrative operations of the company.
“Steve's
breadth of experience and track record of success in the semiconductor business
will be a strong addition to the Cree leadership team as we drive the adoption
of energy-efficient LED lighting,” said Chuck Swoboda, Cree chairman and chief
executive officer.
Kelley
comes to Cree after five years at Texas Instruments where he served as vice
president and general manager of the Standard Linear and Logic Group. Prior to
that, Kelley spent 10 years at Philips Semiconductors in various management
positions.
About
Cree
Cree is
leading the LED lighting revolution and setting the stage to obsolete the
incandescent light bulb through the use of energy-efficient, environmentally
friendly LED lighting. Cree is a market-leading innovator of lighting-class
LEDs, LED lighting solutions, and semiconductor solutions for wireless and power
applications.
Cree’s
product families include recessed LED down lights, blue and green LED chips,
high brightness LEDs, lighting-class power LEDs, power-switching devices and
radio-frequency/wireless devices. Cree solutions are driving improvements in
applications such as general illumination, backlighting, electronic signs and
signals, variable-speed motors, and wireless communications.
For
additional product and company information, please refer to www.cree.com.
This
press release contains forward-looking statements involving risks and
uncertainties, both known and unknown, that may cause actual results to differ
materially from those indicated. Actual results may differ materially due to a
number of factors, including customer acceptance of LED products; the rapid
development of new technology and competing products that may impair demand or
render Cree’s products obsolete; and other factors discussed in Cree’s filings
with the Securities and Exchange Commission, including its report on Form 10-K
for the year ended June 24, 2007, and subsequent filings.
# #
#